645 posts categorized "Retailing"

July 31, 2015

Recent weeks have seen a flurry of announcements from western social media giants regarding new ways for consumers to buy products directly from retailers without leaving those social platforms. Because fashion is inherently visual, sharable and has one of the highest online penetration rates for consumer goods online sales, it is important for those in the industry to keep an eye on these developments. But, with this in mind, it may be the case that the future of social commerce lies within messaging apps. Listen to the podcast for complete insights.

July 29, 2015

The Iranian economy is poised to open up after the nuclear deal, and the economy of this market remains largely untapped mainly due to economic sanctions. Grocery retailing is a market that remains largely traditional, with many consumers preferring small format stores with local flair. Due to the new deal, the international financial system may have further incentives to penetrate the food retailing market in Iran.

The Iranian economy is poised to open up after the nuclear deal, and the economy of this market remains largely untapped mainly due to economic sanctions. Grocery retailing is a market that remains largely traditional, with many consumers preferring small format stores with local flair. Due to the new deal, the international financial system may have further incentives to penetrate the food retailing market in Iran.

July 24, 2015

Harvey Nichols, the fourth biggest luxury goods retailer in the UK by retail sales value, has launched a state-of-the-art loyalty app that will reward customers for every pound they spend in its stores, its online platforms or in any of the brand’s upmarket bars and restaurants (including the famous OXO Tower on London’s South Bank).

Rewards will range from Champagne dinners to Botox and luxury massages. “We want to give our customers more than just pennies for points”, says Shadi Halliwell, Group Marketing and Creative Director at Harvey Nichols. The rewards are more luxurious than most loyalty schemes on the market, but the rationale behind the strategy is the same. It is about driving up sales.

Loyalty programmes and luxury goods are not obvious bedfellows, but there are a number of reasons why this type of scheme could soon become the norm. Firstly, money saving and deal culture has gripped UK retailing for some years. Luxury retailers have kept their distance for fear of diminishing their cachet, but this has not stopped a torrent of heavy discounting across the industry. Secondly, apps are at the forefront of retail digital innovation and are identified as key to attracting “internet junky” millennials. Thirdly, the UK’s luxury retail market has never been more competitive, so coming up with clever ways to attract customers is a key battleground.

Euromonitor International is pleased to once again partner with Retail Asia as the official information provider for the 12th edition of the Retail Asia-Pacific Top 500 rankings. In 2014, the leading 500 retailers in Asia Pacific had sales of US$1.1 trillion, an increase of 2%. The rise of the Chinese retail market has led to Chinese companies to dominate the list, accounting for 32% of the ranking. In absolute terms, five of the top ten fastest growing companies in absolute terms were Chinese hypermarkets. However, Japanese companies are still significant because they operate in a consolidated market and have expanded to many countries within the region.

7-Eleven Japan retains the top spot on the ranking of Asia Pacific’s top 500 retailers, which was published in conjunction by Euromonitor International and Retail Asia. 7-Eleven’s success is due to its widespread store network. China Resources Enterprise Ltd moved up the most on the ranking, climbing seven spots to reach 24th place in 2014. Its multi-format strategy, with its brands in convenience stores, drugstores, supermarkets and hypermarkets, enabled it to grow quickly.

July 22, 2015

The retail industry is rapidly evolving. The rise of internet retailing is forcing store-based retailers to quickly adapt by adopting multi-channel strategies, such as click and collect. Considering the nature of technical consumer goods (TCG), often big ticket items necessitating advice or delivery and installation, as well as after sales service, the changing retail environment will have a particular impact on consumer electronics and appliance specialist retailers.

In 2015, Asia Pacific became the global leader in online and mobile commerce. This video outlines which companies and retailing formats thrive in Asian markets and discusses consumer trends driving this growth. Watch for complete insights.

In 2015, Asia Pacific became the global leader in online and mobile commerce. This video outlines which companies and retailing formats thrive in Asian markets and discusses consumer trends driving this growth. Watch for complete insights.

July 20, 2015

Marc Lore, the founder of Quidsi and former Amazon employee, is finally launching his next venture, Jet.com on Tuesday July 21st, after raising US$220 million. Will Jet.com be the next game-changer that can take on Amazon?

Through a dynamic pricing model, Jet.com promises average savings of 10-15% compared to anywhere else online at half of Amazon Prime’s membership fee. Starting on Tuesday, consumers can sign up for a membership at $49.99 per year with a free 90-day trial period. Jet.com plans to make its revenue strictly from membership fees and pass along all savings to consumers.

“'The bottom line is, we’re basically not making a dime on any of the transactions. We’re passing it all back to the consumer,’ Lore says from a conference room in his Montclair headquarters. ‘We want to build a different type of relationship with the consumer. When we show you a product, it’s not because we are making money on it and not because we are closing out a line. It’s because we think it’s a good deal.’” –BloombergBusiness

July 19, 2015

Proximity mobile payments continue to garner the most attention as the technology of the future from the payments industry. Consumers, though, still express concern over security and don't have the incentive to adopt mobile as a new payment habit. Starbucks is the current market leader in mobile payments apps integrated with loyalty programs. This video makes the case for integrating mobile into payments and loyalty strategies for a wider base of retailers and service providers. Watch for complete insights.

Proximity mobile payments continue to garner the most attention as the technology of the future from the payments industry. Consumers, though, still express concern over security and don't have the incentive to adopt mobile as a new payment habit. Starbucks is the current market leader in mobile payments apps integrated with loyalty programs. This video makes the case for integrating mobile into payments and loyalty strategies for a wider base of retailers and service providers. Watch for complete insights.

July 17, 2015

In the last few months, the concept of Ethical Fashion has become a key theme for Japanese department stores. Whilst a number of small-scale brands with Ethical Fashion approaches had occasionally showcased their products at some department stores, this is the first time that so many Japanese department stores hosted large-scale collections in their top-location branches. Selling ethical fashion brands allows department stores to differentiate themselves and appeal to shopper desires for products with an emotional connection. To be successful, though, department stores need to treat ethical fashion as long term trend, not a short term fad.

July 13, 2015

Amazon's "Prime Day" on July 15 will feature unprecedented deals throughout the site for Prime members and will aim to showcase Amazon Prime's ancillary features as well as maintaining and growing its customer base. With competitor sites such as Jet.com, Wal-Mart's ShippingPass and eBay's eBay+ launching later this year - all with cheaper membership fees - Prime Day could be seen as a defensive act. Amazon gets more members and convinces current subscribers not to jump to ship.